Good news for FHA buyers!

By Wayne Zuhl

Real Estate Agent with Remax First Realty II 0790808

January 07, 2015 07:32 AM

According to a report published today on Bloomberg News, President Obama wants the FHA to lower their Mortgage Insurance Premiums (MIP) from 1.35% to .85%.

What will this do the market? The FHA believes that this will create 250,000 new first time home buyers once the premium is lowered. However the 1.75% fee that the FHA charges up front will not be changing, The hope is that the lower premium will entice more people to enter into the market.

I think that it will be a good move, making the FHA option more affordable to home buyers.

What do you think?

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John Meussner

Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

I agree, this is great news for home buyers and those who already have loans with FHA. The up front charge is easier for buyers to stomach because it's financed over 30 years, I was glad to see them lower the one that really hurts, the annual payment. Great news to share team Zuhl!

Jan 07, 2015 07:44 AM

Wayne Zuhl

Cranford, NJ

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

I am very excited by this move in the right direction. Maybe more will follow.

Jan 08, 2015 11:39 AM

Robert Bob Gilbert

Berkshire Hathaway HomeServices Anderson Properties - Katy, TX

Your Katy TX ( West of Houston) Real Estate Expert

Hi Folks, I think this will help and hopefully more buyers will come out of the no comit zone and be reday to buy a home.

Jan 09, 2015 05:19 AM

Good news for FHA buyers!

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Wayne Zuhl

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